WhaleCreep

Sands Capital 13F holdings, Q3 2018

Long-only investorSEC filingsCompare with another fundHoldings as of 2018-09-30, filed 2018-11-14

Sands Capital disclosed 68 US equity positions worth $35.4bn in its Q3 2018 13F filing. Its largest position is AMZN at 8.3% of the reported book, followed by V and BABA. Versus Q2 2018 it opened 5 new positions, added to 16, reduced 44 and exited 3.

$35.4bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
68
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
8.3%
Largest position
The largest single position as a share of the reported equity book.
52.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
25
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
106
Quarters on file since Q1 1999
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2018: 5 new, 16 added, 44 reduced, 3 exited

50 of 68
AMZN AMAZON COM INCConsumer Cyclical8.3%$2.9bn1.46m−16%reduced
V VISA INCFinancial Services7.4%$2.6bn17.39m−6.6%reduced
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical7.1%$2.5bn15.34m+5.0%added
NFLX NETFLIX INC.Communication Services5.6%$2.0bn5.27m−6.9%reduced
GOOGL ALPHABET INCCommunication Services4.3%$1.5bn1.27m−6.6%reduced
ILMN ILLUMINA INCHealthcare4.2%$1.5bn4.00m−6.3%reduced
EW EDWARDS LIFESCIENCES CORPHealthcare4.1%$1.5bn8.37m+21%added
CRM SALESFORCE INCTechnology3.9%$1.4bn8.77m−7.9%reduced
META META PLATFORMS INCCommunication Services3.8%$1.3bn8.14m−6.3%reduced
NOW SERVICENOW INCTechnology3.6%$1.3bn6.59m−7.1%reduced
BKNG BOOKING HOLDINGS INCConsumer Cyclical3.3%$1.2bn582,055−6.9%reduced
ADBE ADOBE INCTechnology3.2%$1.1bn4.19m−9.4%reduced
ALGN ALIGN TECHNOLOGY INCHealthcare3.1%$1.1bn2.84m−7.0%reduced
SCHW SCHWAB CHARLES CORPFinancial Services3.0%$1.1bn21.38m−6.7%reduced
WDAY WORKDAY INCTechnology2.7%$948m6.49m−6.1%reduced
REGN REGENERON PHARMACEUTICALSHealthcare2.5%$880m2.18m−5.6%reduced
PANW PALO ALTO NETWORKS INCTechnology2.1%$736m3.27m−7.8%reduced
MNST MONSTER BEVERAGE CORP NEWConsumer Defensive1.9%$689m11.83m+1.8%added
NKE NIKE INCConsumer Cyclical1.9%$670m7.91m−5.5%reduced
BMRN BIOMARIN PHARMACEUTICAL INCHealthcare1.8%$625m6.45m−7.0%reduced
ASML ASML HLDG NVTechnology1.7%$618m3.29m−3.8%reduced
SPLKCHF SPLUNK INC–1.7%$611m5.05m−7.9%reduced
CSGP COSTAR GROUP INCReal Estate1.7%$605m1.44m−2.1%reduced
ATVIEUR ACTIVISION BLIZZARD INC–1.5%$544m6.54m+16%added
SHOP SHOPIFY INCTechnology1.3%$460m2.80m−5.0%reduced
TEAM ATLASSIAN CORP PLCTechnology1.2%$436m4.54m−4.9%reduced
ALXN ALEXION PHARMACEUTICALS INC–1.2%$412m2.97m−8.0%reduced
GOOG ALPHABET INCCommunication Services1.1%$404m338,106−6.6%reduced
BIDU BAIDU INCCommunication Services1.0%$352m1.54m−44%reduced
LKFT LAKEFRONT BIOTHERAPEUTICS NVHealthcare1.0%$337m3.00m+63%added
LOXO ONCOLOGY INC no ticker–0.9%$315m1.84m−8.1%reduced
INCY INCYTE CORPHealthcare0.9%$313m4.53m−5.2%reduced
SRPT SAREPTA THERAPEUTICS INCHealthcare0.9%$307m1.90m–new
SBUX STARBUCKS CORPConsumer Cyclical0.8%$296m5.21m−52%reduced
LVS LAS VEGAS SANDS CORPConsumer Cyclical0.7%$261m4.40m−5.4%reduced
FND FLOOR & DECOR HLDGS INCConsumer Cyclical0.6%$203m6.73m+40%added
ABMDEUR ABIOMED INC–0.6%$200m443,607–new
MDSOEUR MEDIDATA SOLUTIONS INC–0.4%$157m2.15m−34%reduced
NBIS NEBIUS GROUP N.V.Communication Services0.4%$142m4.33m+12%added
INDA ISHARES TR–0.4%$125m3.86m+1.9%added
TSM TAIWAN SEMICONDUCTOR MANUFACTechnology0.3%$123m2.79m+13%added
CTRPUSD CTRIP COM INTL LTD–0.3%$115m3.09m+15%added
MELI MERCADOLIBREConsumer Cyclical0.3%$90.9m267,073+6.3%added
ASR GRUPO AEROPORTUARIO DEL SUREIndustrials0.2%$67.2m327,452+9.4%added
MAKEMYTRIP LIMITED MAURITIUS no ticker–0.2%$65.6m2.39m+9.5%added
SE SEA LTDConsumer Cyclical0.1%$38.6m2.79m+9.4%added
HDB HDFC BANK LTDFinancial Services0.1%$36.4m386,656+34%added
ZTS ZOETIS INCHealthcare0.06%$22.0m239,935+34%added
DOCU DOCUSIGN INCTechnology0.06%$21.4m406,9230.0%held
HCM HUTCHMED CHINA LTDHealthcare0.05%$16.4m508,275–new

Exited since Q2 2018

3 rows
BAP CREDICORP LTD0.1%$49.8m
CSCO CISCO SYS INC0.0%$465k
MSFT MICROSOFT CORP0.0%$419k

Sector mix

  • Consumer Cyclical23.1%
  • Technology20.3%
  • Healthcare18.5%
  • Communication Services16.2%
  • Financial Services10.5%
  • Unclassified7.2%
  • Consumer Defensive2.0%
  • Real Estate1.7%
  • Industrials0.3%

Book over time

Every quarter on file (106)
QuarterPositionsEquity book
Q2 202671$26.9bn
Q1 202667$25.5bn
Q4 202566$32.9bn
Q3 202564$36.2bn
Q2 202566$34.8bn
Q1 202575$29.4bn
Q4 202471$33.8bn
Q3 202467$32.9bn
Q2 202466$34.0bn
Q1 202476$35.8bn
Q4 202374$32.9bn
Q3 202375$29.4bn
Q2 202366$32.2bn
Q1 202366$30.4bn
Q4 202267$26.5bn
Q3 202267$26.6bn
Q2 202269$28.9bn
Q1 202268$43.5bn
Q4 202171$53.9bn
Q3 202171$60.0bn
Q2 202177$59.0bn
Q1 202175$51.7bn
Q4 202076$52.7bn
Q3 202077$46.2bn
Q2 202077$41.3bn
Q1 202076$30.0bn
Q4 201975$34.4bn
Q3 201978$31.1bn
Q2 201979$33.6bn
Q1 201971$32.4bn
Q4 201871$28.0bn
Q3 201868$35.4bn
Q2 201866$34.9bn
Q1 201867$33.8bn
Q4 201768$33.0bn
Q3 201770$33.4bn
Q2 201769$33.3bn
Q1 201767$31.8bn
Q4 201653$28.7bn
Q3 201651$34.0bn
Q2 201652$32.4bn
Q1 201651$33.9bn
Q4 201553$38.8bn
Q3 201553$35.8bn
Q2 201551$40.7bn
Q1 201549$42.0bn
Q4 201454$42.0bn
Q3 201451$40.2bn
Q2 201449$39.7bn
Q1 201444$38.4bn
Q4 201343$38.2bn
Q3 201342$35.8bn
Q2 201339$29.7bn
Q1 201329$24.7bn
Q4 201231$22.5bn
Q3 201233$21.9bn
Q2 201233$19.3bn
Q1 201235$19.4bn
Q4 201148$15.1bn
Q3 201150$13.0bn
Q2 201149$14.9bn
Q1 201152$14.4bn
Q4 201051$14.0bn
Q3 201045$11.9bn
Q2 201045$10.1bn
Q1 201045$11.5bn
Q4 200947$11.8bn
Q3 200945$11.0bn
Q2 200942$9.5bn
Q1 200940$8.1bn
Q4 200836$6.2bn
Q3 200836$9.3bn
Q2 200838$12.6bn
Q1 200838$11.4bn
Q4 200749$15.1bn
Q1 200751$13.6bn
Q2 200635$11.5bn
Q1 200637$12.7bn
Q4 200543$12.8bn
Q3 200543$11.4bn
Q2 200544$9.2bn
Q1 200540$8.2bn
Q4 200444$11.0bn
Q3 200483$8.5bn
Q2 200440$8.3bn
Q1 200445$6.7bn
Q4 200342$5.3bn
Q3 200338$4.1bn
Q2 200341$2.5bn
Q1 200337$2.0bn
Q4 200238$1.8bn
Q3 200240$1.4bn
Q2 200239$1.3bn
Q1 200235$1.4bn
Q4 200139$1.4bn
Q3 200136$1.0bn
Q2 200137$1.3bn
Q1 200135$1.1bn
Q4 200039$878m
Q3 200042$962m
Q2 200033$917m
Q1 200035$919m
Q4 199933$648m
Q3 199929$533m
Q2 199930$440m
Q1 199925$342m

Where Sands Capital was early

67 rows
ADP Auto Data ProcessingQ2 19991 of 1482.2%5.1%14Exited by Q4 2002−21%
PFE PfizerQ2 19991 of 2080.09%7.2%22Exited by Q4 2004−16%
MDT MedtronicQ1 20001 of 1730.04%5.6%20Exited by Q1 2005−3.4%
TXN TEXAS INSTRS INCQ1 200017 of 2020.03%1.6%36Exited by Q1 2025+134%
NOK Nokia Corp SPONQ3 20001 of 1673.9%5.4%10Exited by Q1 2003−62%
EBAY EBAY INCQ4 20002 of 1861.1%12.4%24Exited by Q4 2007+302%
TROW PRICE T ROWE GROUP INCQ1 20011 of 1201.8%1.9%27Exited by Q4 2008+243%
KSS KOHLS CORPQ2 20011 of 1660.3%4.4%19Exited by Q1 2006−23%
COF CAPITAL ONE FINL CORPQ2 20012 of 2270.1%8.7%20Exited by Q2 2006+34%
SBUX STARBUCKS CORPQ3 20011 of 2170.02%7.8%28Exited by Q2 2019+1890%
AMGN AMGEN INCQ3 20012 of 1660.02%5.4%19Exited by Q2 2006+24%
LOW LOWES COS INCQ4 20011 of 2090.1%7.7%21Exited by Q1 2008−2.5%
QCOM QUALCOMM INCQ4 20013 of 2461.8%7.9%40Exited by Q4 2013+167%
SEIC SEI InvestmentQ2 20021 of 881.6%2.0%6Exited by Q4 2003+16%
MCO MOODY'S CORPQ2 20025 of 1761.6%6.3%39Exited by Q3 2020+1004%
SYK STRYKERQ1 20032 of 1501.5%3.8%26Exited by Q3 2010+46%
TEVA TEVA PHARMACEUTICAL INDS LTDQ4 20033 of 1820.01%7.0%13Exited by Q1 2008+64%
ZBH ZIMMER HLDGS INCQ2 20042 of 1440.0%3.5%11Exited by Q1 2008−25%
GWW WW GRAINGER INCQ3 20042 of 1200.01%3.2%12Exited by Q4 2012+261%
AMZN AMAZON COM INCQ3 20044 of 3780.01%10.3%69Held at last filing, Q2 2026+11566%
AAPL APPLE INCQ1 20056 of 2750.0%11.0%36Held at last filing, Q2 2026+19343%
EXPD EXPEDITORS INTL WASH INCQ1 20063 of 1200.0%3.4%6Exited by Q4 2008−19%
ADBE ADOBE INCQ1 200616 of 2750.0%3.3%38Exited by Q2 2024+1344%
SLB SCHLUMBERGER LTDQ2 20063 of 2114.4%9.0%40Exited by Q2 2017+20%
V VISA INCQ2 20087 of 2846.0%9.8%73Held at last filing, Q2 2026+1588%
FLIR FLIR SYSTEMS INCQ3 20093 of 801.7%1.8%11Exited by Q2 2012−9.5%
ILMN ILLUMINA INCQ3 20093 of 2150.7%4.8%39Exited by Q2 2024+223%
SCHW SCHWAB CHARLES CORPQ3 20095 of 2211.1%4.2%39Exited by Q3 2020+76%
EW EDWARDS LIFESCIENCES CORPQ3 20096 of 1490.02%5.2%49Exited by Q2 2025+1144%
TSM TAIWAN SEMICONDUCTOR MANUFACQ4 200930 of 3290.01%7.8%50Held at last filing, Q2 2026+4075%
1885807D ATHENAHEALTH INCQ1 20103 of 810.0%1.8%31Exited by Q4 2017+665%
ALXN ALEXION PHARMACEUTICALS INCQ2 20103 of 1470.0%5.0%35Exited by Q1 2019+154%
FFIV F5 NETWORKS INCQ3 20102 of 1411.4%3.7%14Exited by Q1 2014−12%
PXGBX PRAXAIR INCQ3 20105 of 682.3%3.6%12Exited by Q3 2013+28%
INCY INCYTE CORPQ4 20104 of 1560.01%3.0%20Exited by Q4 2019+348%
NFLX NETFLIX INC.Q4 20105 of 3011.8%6.9%50Held at last filing, Q2 2026+2745%
BIIB BIOGEN INCQ3 20118 of 1830.01%5.0%22Exited by Q1 2018+242%
BIDU BAIDU INCQ1 201215 of 2310.05%6.1%34Exited by Q4 2020−13%
META META PLATFORMS INCQ2 20122 of 3841.9%8.1%55Held at last filing, Q2 2026+1711%
ASML ASML HLDG NVQ4 20122 of 2344.2%5.9%55Held at last filing, Q2 2026+2990%
CMG CHIPOTLE MEXICAN GRILL INCQ4 20128 of 1853.0%3.7%21Exited by Q1 2018−2.8%
REGN REGENERON PHARMACEUTICALSQ2 20131 of 1712.4%5.4%30Exited by Q4 2020+149%
ULTA ULTA SALON COSMETCS AND FRAG IQ2 20133 of 1782.4%2.5%4Exited by Q2 2014−2.7%
ISRG INTUITIVE SURGICAL INCQ2 20135 of 1892.1%2.5%11Held at last filing, Q2 2026+607%
WDAY WORKDAY INCQ1 201411 of 2630.8%3.6%31Exited by Q4 2021+173%
BABA ALIBABA GROUP HLDG LTDQ3 201417 of 3771.5%8.2%33Held at last filing, Q2 2026+8.0%
CSGP COSTAR GROUP INCQ4 20145 of 1890.01%2.9%39Exited by Q3 2024+304%
PANW PALO ALTO NETWORKS INCQ2 201513 of 2421.0%2.1%23Held at last filing, Q2 2026+1071%
UAA UNDER ARMOUR INCQ3 20154 of 1400.3%2.2%9Exited by Q4 2017−66%
NOW SERVICENOW INCQ2 201611 of 2880.02%5.0%40Exited by Q2 2026+687%

Concentration and tenure

8.6%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
55.5%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
5
Median completed holding, quarters